Summit Properties Limited Sale of Property (6810C)

TIDMSMTP

RNS Number : 6810C

Summit Properties Limited

19 June 2019

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Properties Limited

(the "Company")

Sale of Property for EUR225 million

19 June 2019

Summit Properties Limited, the German commercial property investment company, is pleased to announce that its subsidiary has signed a binding agreement for the disposal of a German office building for a consideration of EUR225.0 million, 7.9% above its EUR208.6 million valuation as at 31 December 2018.

The property's annual rental income as of 31 December 2018 totaled EUR4.62 million p.a., reflecting a rental yield of 2.1%.

Completion of the transaction is expected at the end of 2019.

For further information please contact:

 
Summit Properties Limited                      Tel: +44 (0) 1481 700 300 
Zohar Levy - Managing Director 
Itay Barlev (Braun) - Finance Director 
 
Non-Executive Chairman                         Tel: +44 (0) 20 7451 7050 
Harry Hyman 
 
Carey, Company Secretary                       Tel: +44 (0) 1481 700 300 
Chris Le Page / Nikolett Mezei 
 
Liberum Capital Limited, Nominated Adviser     Tel: +44 (0) 20 3100 2222 
 and Joint Broker 
Chris Clarke / Gillian Martin / Owen Matthews 
 
Cenkos Securities, Joint Broker                Tel: +44 (0) 20 7397 8900 
Mark Connelly 
Russell Kerr / Selwyn Jones (Broking)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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